FYI: Winspear Resources Ltd. update
VANCOUVER, June 18 /CNW/ - Winspear Resources Ltd. (WSP.V) is pleased to
report that 5,542.27 carats of diamonds valued at US$98.42 per carat have been
recovered from processing 3,003.9 dry tonnes of kimberlite obtained from Pit 4
on the NW dyke located at Snap Lake, Haywood project, Camsell Lake property.
Snap Lake is located 140 miles northeast of Yellowknife, NWT. Winspear is the
Operator of the joint venture which owns the property.
Results reported below are for diamonds recovered from Pit 4 material.
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Pit 4 Diamond Recovery Results
Dry tonnes of kimberlite processed: 3,003.9
Total Diamonds recovered (cleaned weight)* 5,542.27 carats
Grade (carats per tonne) 1.845
Value per carat US$98.42
Value per tonne US$181.58
*Recovered diamonds are those that are larger than openings in a +3
diamond sieve. This is approximately equivalent to a 1.15 mm square
mesh screen.
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The diamonds were recovered from a plant in which the smallest cut-off
size was determined by slotted screens with apertures measuring 1 x 9 mm.
This gives an equivalent square mesh cut-off for this plant of approximately
1.2 mm. The reported grade is for those diamonds that remain on a +3 diamond
sieve, which is approximately equivalent to a 1.15 mm. square mesh screen.
Of the diamonds recovered from the Pit 4 kimberlite, six stones exceed
10.8 carats in weight and have been uniformly classified by the valuers as
''specials''. A total of 88 stones in the parcel exceed three carats in
weight. The largest diamond recovered weighs 14.3 carats.
All valuations were carried out under the direction of WWW International
Diamond Consultants Ltd., based in London, England. Individual valuations on
the parcel were carried out by seven independent diamantaires in Antwerp and
Canada. These seven values were then averaged to arrive at the value
presented in this release.
Pit 4 is immediately adjacent to and down dip from Pit 1 that was sampled
in 1998. Some comparisons between Pit 1 and Pit 4 results are as follows:
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Pit 1(1998) Pit 4 (this release)
Dry Tonnes processed 105.7 3003.9
Grade (carats per tonne) 0.848 1.845
''Special stones'' (greater than 10.8 carats) 0 6
Diamonds greater than 3 carats 2 88
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Processing of kimberlite removed from Pit 3 has begun. Pit 3 is
approximately 260 metres south of Pit 4 and is adjacent to Pit 2 that was
excavated in 1998 and from which 94 tonnes were processed to yield 138.21
carats. Results from Pit 3 are anticipated about the end of July. A more
comprehensive evaluation of the diamonds in the NW dyke must await results
from processing the Pit 3 kimberlite. Results from Pits 3 and 4 will be used
to help estimate the grade and value per tonne of the NW dyke for feasibility
study purposes.
Winspear is highly encouraged by these results and is looking forward to
integrating all the data obtained during this winter program. This includes
tonnage estimates for kimberlite drilled during the current drill program, and
results of microdiamond analyses of drill core obtained over an area of the
kimberlite dyke that extends approximately 2.0 km in a north-trending
direction, 2.5 km down-dip, and has an average thickness of about 2.5 metres.
Winspear Resources Ltd.
(''signed'')
_______________________
Randy C. Turner, P. Geo
President and Director
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this news
release.
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For further information: Randy C. Turner, President and Director,
(604) 687-6644 or 1-800-686-7744, Fax (604) 687-1405, www.winspear.com,
randgrp@helix.net |
